Sio Capital Management LLC Raises Holdings in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Sio Capital Management LLC increased its position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 18.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,214,239 shares of the company’s stock after buying an additional 505,831 shares during the period. PMV Pharmaceuticals accounts for about 1.9% of Sio Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Sio Capital Management LLC owned about 6.21% of PMV Pharmaceuticals worth $4,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its position in shares of PMV Pharmaceuticals by 92.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 826,704 shares of the company’s stock valued at $1,405,000 after buying an additional 397,062 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of PMV Pharmaceuticals by 267.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 260,028 shares of the company’s stock valued at $421,000 after purchasing an additional 189,214 shares during the last quarter. BML Capital Management LLC boosted its holdings in shares of PMV Pharmaceuticals by 29.0% in the 3rd quarter. BML Capital Management LLC now owns 1,688,772 shares of the company’s stock worth $2,516,000 after purchasing an additional 379,375 shares during the period. Vanguard Group Inc. raised its holdings in PMV Pharmaceuticals by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,452,111 shares of the company’s stock valued at $4,169,000 after buying an additional 46,804 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in PMV Pharmaceuticals during the second quarter worth $101,000. 90.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PMVP shares. Oppenheimer upgraded shares of PMV Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a report on Friday, November 8th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of PMV Pharmaceuticals in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $5.80.

PMV Pharmaceuticals Stock Performance

PMVP opened at $1.60 on Friday. The stock’s fifty day moving average is $1.58 and its two-hundred day moving average is $1.63. PMV Pharmaceuticals, Inc. has a 52 week low of $1.40 and a 52 week high of $3.47.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). On average, research analysts anticipate that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current year.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc, a precision oncology company, engages in the discovery and development of small molecule and tumor-agnostic therapies for p53 mutations in cancer. It's lead product candidate is PC14586, a small molecule that corrects mutant p53 protein containing the Y220C mutation and restores wild-type p53 function.